Nifty rally faces crucial test at key resistance levels: Analysts

What happened: Nifty gained 3% and analysts cited a higher-top, higher-bottom structure, a reclaim of the 20-day average and a hold above 23,000. Key numbers: Nifty support at 22,786, upside zone 23,400 to 23,500. Bank Nifty resistance band 56,000 to 56,100, support 55,400 to 55,500. Coforge CMP Rs 1,951, target Rs 2,070. Kotak Bank CMP Rs 447, target Rs 475. Indian Hotels CMP Rs 772, target Rs 880 to 885. Why it matters: Analysts framed the rebound as bullish while flagging resistance levels ahead, with Bank Nifty seen facing a confluence of resistance near its moving averages.

Nifty's 3% gain and analyst recovery predictions signal positive momentum despite resistance levels.

Nifty's 3% gain and analyst recovery predictions signal positive momentum despite resistance levels. — impact context not separately stored; see What changed.